Legg Mason Announces 2015 Lipper Fund Winners
Vanguard Long-Term Tax-Exempt cautiously manages credit- and interest-rate risk while Western Asset Managed Municipals delves into mid-quality credits and actively manages duration.
PIMCO hooks a big fish from its Southern California coastal neighbor Western Asset in a bid to build out its municipal-bond team.
These highly rated funds appear inexpensive based on historical valuation trends.
Carrying costs are a powerful tool for finding municipal CEFs at a bargain.
Two more funds get the Bronze.
As the Fed intends to keep interest rates low for the next few years, muni-CEF investors should maintain a close watch on their funds' call exposure.